Situated in Odense, the third largest city in Denmark, Rosengårdcentret is an established and dominant shopping centre with a long and successful trading history. Due to its size, prime location with easy accessibility and visibility, limited competition and strong and well-diversified tenant mix, the centre is the prime shopping destination for the entire island of Funen (in excess of 500,000 inhabitants).
The Investment Strategy
- Acquired in 2013 by the ECE European Prime Shopping Centre Fund I
- Strong operational value creation since acquisition:
- Restructuring/re-leasing of a hypermarket space (14,000 sqm) into 20 new retail units including the first Zara outside of Copenhagen
- State-of-the-art mall refurbishment leading to a large-scale centre revitalisation
- Further upside expected following the completion of a planned restructuring, revitalisation and re-leasing strengthening the branch offering in the centre
- Transferred to the ECE Progressive Income Growth Fund in 2019